18 Feb '11, 3am

Crude up in Asian trade

SINGAPORE: Oil was up in Asian trade Friday as persistent tensions in the Middle East and North Africa continued to push prices higher, analysts said. New York's main contract, light sweet crude for delivery in March, gained a cent to $86.37. Brent North Sea crude for April delivery rose two cents to $102.61. "I think that crude oil prices could again be boosted by unrest around the Middle East and North Africa," said Ong Yi Ling, investment analyst for Phillip Futures in Singapore. Tensions around the region continued to persist Friday, with casualties as well as fatalities in Libya and Bahrain as security forces clashed with anti-regime protesters. Crime spiralled in the capital city of post-uprising Tunisia and Egypt's military leadership assumed what it says is temporary control over the Arab world's most populous nation. In Algeria, senior former regime leader Abdelha...

Full article: http://www.channelnewsasia.com/stories/afp_asiapacific_bu...

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